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Changing large amounts of currency

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  • 30-06-2014 4:21am
    #1
    jonnyphant
    Registered Users Posts: 22 ✭


    I've used FX brokers in the past, set up an account with all of the reputable ones and let them outbid each other until I am giving them the lowest margin (usually about 0.8%).

    However when dealing with large amounts giving any fixed percentage away is never ideal.

    Norbert's gambit is a very good way of trading USD/CAD at less than 0.1% if the amount is large enough, but after some extensive googling I've not found a way to do this that involves EUR.

    Are FX brokers the best way to go?


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    #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Are you 'trading' currencies, or is this money that is being paid to you that you want to get the best possible rate for before it's lodged to your account?


  • Options
    #3
    jonnyphant
    Registered Users Posts: 22 ✭jonnyphant


    I'm trading currencies


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